(WRSP) Nasdq Deficiency
Has today admit it received a Nasdq Deficiency letter,They plan to correct the condiction outlined below
In response to this notification, the Company and Yenura Pte. Ltd., the
Company's largest stockholder, have agreed that Yenura will exchange at this
time its equity holdings in the Company consisting of all of the outstanding
shares of the Company's Class B Common Stock, par value, $.01 per share ("Class
B Shares"), for shares of the Company's listed Class A Common Stock, par value
$.01 per share ("Class A Shares"). The exchange will be on a share-for-share
basis. This transaction will result in the issuance of an additional 17,426,443
Class A Shares which will be listed on The NASDAQ Global Market, thus increasing
to 38,767,535 the number of Class A Shares outstanding for purposes of
calculating the market value of listed securities. The conversion will not
result in any change in the Company's weighted average number of shares
outstanding since this number historically included the Class B Shares.
08/30/06
WORLDSPACE(R) Receives NASDAQ Listing Deficiency Letter
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